It seems this theme is spilling over to Russia, where the first instance of power stations being bought by investors to house cryptocurrency mining operations is being reported.

According to RT, Russian businessman Aleksey Kolesnik has all but confirmed buying two power stations for cryptocurrency mining operations in the future - citing a report from local newspaper Kommersant.

The two power plants based in Perm and Udmurtia, regions roughly 1,200 km East of Moscow, will be refurbished into a data center and mining operation.

Kolesnik paid around $3 mln for the two power stations - although its uncertain if and when the plans to start mining cryptocurrency will go ahead.

The credibility of the project and its future is in the hands of the Russian government, which has made headway in its outlook on cryptocurrencies in the country.

Late last week, local media reported that Russia’s finance ministry had officially drafted a bill that would legalize the trade of cryptocurrencies on regulated exchanges in the country.